During a first-quarter Visa earnings call on Thursday, Chairman and CEO Al Kelly dedicated a portion of his comments to reaffirm the financial giant's commitment to cryptocurrency payments and projects, In addition to an explanation of how Visa is thinking about digital currencies in general and our approach.
the financial services company, with assets of over $ 72 billion as of 2019, has been aggressively pushing digital payments lately, including through partnerships that Enables digital debit cards, Zap Invest, a startup for digital currency payments.
In addition, earlier this month, Visa was forced to abandon a $ 5.3 billion acquisition of the Blade payments platform for antitrust reasons.
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According to Queen Telegraph, Thursday's comments make clear that Visa still has long-term plans in the sector, and that the company believes it is in an excellent position to pursue those plans. / p>
According to the transcript of the call, Kelly said: We believe we are uniquely positioned to help make digital currencies safer, more useful, and viable in payments, thanks to Visa size, integration and spread Trademark.
Ethereum advocates and the phenomenal growth of decentralized financing might be surprised from the company's somewhat outdated view of smart contract platforms.
Kelly said Visa groups blockchain assets into two categories: digital currencies that represent new assets such as Bitcoin and act as a store of value, and digital currencies that are directly supported by existing fiat currencies that are Use them more routinely for payments.
For currencies that act as a store of value, Kelly said Visa will act as the leader of the fiat projects: Our strategy here is to work with wallets and exchanges to enable users to purchase these currencies using Their Visa credentials or cash out from our Visa credentials to make a purchase at any of the 70 million merchants where Visa is accepted globally.
However, when it comes to stablecoins, Visa takes a much more bullish stance, describing digital currencies as an emerging payment innovation that it can use in global trade, such as any Another fiat currency, and he said public blockchain networks could be seen as payment poles similar to RPT or ACH networks.
